US SEC sets Nov 5 deadline for reviewing Bitcoin ETF Applications

The securities and exchange commission has outlined a time frame for reviewing proposed rule changes related to a number of diffirent applications for Bitcoin ETFs. The review period affects 9 applications.

The SEC has asked for anyone to file a statement in support or rejection of the proposed ETFs by November 5.

The regulator had found that the products did not comply with the requirements by the “Exchange Act Section 6(b)(5), in particular the requirement that a national securities exchange’s rules be designed to prevent fraudulent and manipulative acts and practices.” As a result, the applications are being reviewed.